Coronavirus: Banker says gov’t should forget about China and produce more goods to feed Ghanaians
- Lawrence Agyinsam, the CEO of Ghana Exim Bank, has urged the government to boost manufacturing in the wake of the spread of the coronavirus
- According to him, the coronavirus has negatively international trade and there is, therefore, the need for an alternative course of action
- He added that there is a need to promote a sense of patriotism and support those who are willing and ready to do business
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The Chief Executive Officer (CEO) of the Ghana Exim Bank, Lawrence Agyinsam, has called on the government to implement measures that would lead to increased manufacturing of goods.
According to him, the extent to which the coronavirus has affected trading activities in Ghana should be a wakeup call.
He explained that Ghana heavily relies on imports from China and the country has experienced a downturn in its business activities.
Source: UGC
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Agyimsam, per a report by citibusinessnews.com, explained that for that reason, Ghanaian businesses are also in a fix and therefore need an alternative course of action.
He went on to say that there is an urgent need to deepen the sense of patriotism and provide support for those who are ready and willing to do business.
With that done, he stated, Ghanaians could have locally produced goods for use so that the country’s dependency on China would fall.
YEN.com.gh has learned that the Ghana Union of Traders Association (GUTA), as well as other stakeholders in business, have warned of a possible increase in prices of goods and services if no solution is found with respect to the coronavirus.
As at the year 2018, trade between Ghana and China was estimated to be US$7.3 billion and this made Ghana the seventh-largest African trading partner of China in that year.
In other news, the United Kingdom (UK) has teamed up with an innovations hub in Senegal to develop a 10-minute coronavirus test.
The $60 million prevention and research funding package is an attempt to get a faster way to diagnose the coronavirus.
With the help of a specialised facility in Dakar, Senegal, the UK government, through Mologic, a biotech firm is working with the Institut Pasteur de Dakar.
A qz.com report shows the test kits would be manufactured at DiaTropix, the Dakar-based custom-built facility for innovative ways to deal with epidemics.
Information available shows that the test kits are expected to be handheld devices and would be manufactured in June 2020.
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Source: YEN.com.gh
